Accent Group rejects Frasers Group’s A$0.65 per share offer, citing discounts to recent trading and prior purchase prices.
Accent Group’s independent board committee unanimously advised shareholders to reject Frasers Group’s A$0.65 per share takeover bid, labeling it “materially inadequate.” The offer matches Accent’s pre-bid closing price but trails the A$0.71 close on 26 June.
The bid represents a 19% discount to Accent’s six-month volume-weighted average price and 36% below its 12-month average. Frasers previously paid A$1.718 per share in a 2025 subscription and over A$0.92 in February 2026 market purchases.
Accent’s chairman said the bid undervalues the company’s 2030 growth plan, which targets A$1.9bn in sales and a 9% EBIT margin.